Kevin Brady: “I do not think it is responsible to try to scare our citizens with 9, 10, 14, 15 percent interest rate predictions when…”

“I do not think it is responsible to try to scare our citizens with 9, 10, 14, 15 percent interest rate predictions when we know that is not what Alan Greenspan said. And I think even though it is election year and people take great pleasure in trying to doom and gloom the economy and scare average voters in America, I do not think it is the right thing to do. Secondly, I do know that we can tell some things from the past. And while I believe my friend from Kansas is sincere about wanting to address spending as the right way to reduce the deficit, the fact of the matter is that earlier this year on three different occasions, his Democratic colleagues offered motions to pass tax relief for families and a child tax credit and all that, and in each case they did not offer any spending relief. What they offered were more tax increases. So I say that this motion tonight, much like those other motions, its goal is not to pay down the debt by limiting and targeting abusive spending. What it desires to do is raise taxes. And I think the best way we pay down the debt and get back to a balanced budget to do the things that Alan Greenspan rightly said we should do, and I agree with my friend from Kansas, is not to increase taxes on families and small businesses. We are recovering from a recession. We are trying to move dollars through that economy. It is working.”